Method of finishing edges of walls, window jams, doors, or projections with decorative strips of wood to give a better appearance as well as providing protection from jagged edges and helping in preventing drafts. Molding may be fabricated from any material; however, almost all are made from wood. In classical times, molding was made from stone. Molding is now mass produced and can be purchased ready made although it still must be cut to size.
Popular Real Estate Terms
Opinion of a judge having no direct legal or binding effect on the outcome of a pending judicial decision. An obiter dictum is considered to be an incidental judicial remark about some ...
Assures that the title is free of any legal claims including encumbrances. It includes covenants of seizin, freedom from encumbrance, express warranties of title, right to quiet enjoyment, ...
State court where civil disagreements are decided by the judge or jury. A written record is kept of the deliberations. In some stats, civil and criminal courts are combined. ...
Item falling under Section 57 of the Internal Revenue Code that may result in the imposition of the alternative minimum tax (AMT). These items of otherwise exempt income or deductions or of ...
Costs taken over an above what one is entitled to. This can occur either by claiming depreciation costs exceeding actual depreciable value or by depreciating items that cannot be ...
The term ad valorem comes from Latin, and its literal translation is “according to value”, which makes the ad valorem tax definition easy to understand. Defining ad valorem tax ...
Valuation method for land or improvements to property. It takes into account gross rentals less operating expenses. ...
Rights allowing an insurer to act against a negligent third party to receive reimbursement for payments made to an insured. ...
A lessening in the inflation rate. This may occur during a recession when insufficient demand prevents sellers from passing on higher prices to prospective buyers of houses. See also ...
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